Alliancebernstein L.P. Grows Position in Masimo Co. (NASDAQ:MASI)

Alliancebernstein L.P. raised its position in Masimo Co. (NASDAQ:MASI) by 1,276.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 947,391 shares of the medical equipment provider’s stock after buying an additional 878,587 shares during the period. Alliancebernstein L.P. owned 1.77% of Masimo worth $156,604,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Masimo by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,586,702 shares of the medical equipment provider’s stock worth $758,182,000 after purchasing an additional 66,215 shares during the last quarter. State Street Corp increased its holdings in shares of Masimo by 0.7% in the third quarter. State Street Corp now owns 1,438,814 shares of the medical equipment provider’s stock worth $191,837,000 after purchasing an additional 10,179 shares during the period. Geode Capital Management LLC raised its holdings in shares of Masimo by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 792,886 shares of the medical equipment provider’s stock valued at $105,741,000 after acquiring an additional 11,984 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Masimo by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 377,836 shares of the medical equipment provider’s stock valued at $62,456,000 after purchasing an additional 7,808 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Masimo by 0.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 373,705 shares of the medical equipment provider’s stock valued at $61,773,000 after buying an additional 1,522 shares in the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MASI has been the topic of a number of research reports. Raymond James raised their price objective on Masimo from $170.00 to $194.00 and gave the company an “outperform” rating in a report on Friday, December 27th. Needham & Company LLC reiterated a “hold” rating on shares of Masimo in a report on Wednesday, February 26th. Piper Sandler raised their price target on Masimo from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company raised their target price on shares of Masimo from $193.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Masimo currently has an average rating of “Moderate Buy” and a consensus target price of $194.80.

Insider Buying and Selling at Masimo

In related news, Director Craig B. Reynolds sold 2,053 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $166.13, for a total transaction of $341,064.89. Following the completion of the sale, the director now owns 16,581 shares in the company, valued at approximately $2,754,601.53. This trade represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Bilal Muhsin sold 30,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $167.49, for a total transaction of $5,024,700.00. Following the sale, the chief operating officer now directly owns 24,172 shares of the company’s stock, valued at approximately $4,048,568.28. This trade represents a 55.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.70% of the stock is owned by corporate insiders.

Masimo Price Performance

Shares of NASDAQ:MASI opened at $167.61 on Wednesday. The business has a 50-day simple moving average of $174.50 and a two-hundred day simple moving average of $162.48. Masimo Co. has a fifty-two week low of $101.61 and a fifty-two week high of $194.88. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 115.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 2.01.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, February 25th. The medical equipment provider reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.38. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The firm had revenue of $600.70 million for the quarter, compared to the consensus estimate of $593.35 million. On average, analysts expect that Masimo Co. will post 4.1 earnings per share for the current year.

Masimo Profile

Masimo Corporation develops, manufactures, and markets various patient monitoring technologies, and automation and connectivity solutions worldwide. The company offers masimo signal extraction technology (SET) pulse oximetry with measure-through motion and low perfusion pulse oximetry monitoring to address the primary limitations of conventional pulse oximetry; Masimo rainbow SET platform, including rainbow SET Pulse CO-Oximetry products that allows noninvasive monitoring of carboxyhemoglobin, methemoglobin, hemoglobin concentration, fractional arterial oxygen saturation, oxygen content, pleth variability index, rainbow pleth variability index, respiration rate from the pleth, and oxygen reserve index, as well as acoustic respiration monitoring, SedLine brain function monitoring, NomoLine capnography and gas monitoring, and regional oximetry.